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On the Cores of Cooperative Games and the Stability of the Weber Set

Author

Listed:
  • Stef Tijs

    (Department of Econometrics, Tilburg University, P.O. Box 90153, LE Tilburg, The Netherlands)

  • Carles Rafels

    (Department of Actuarial, Financial and Economic Mathematics, University of Barcelona, Avda. Diagonal 690, 08034 Barcelona, Spain, email: rafels@riscd2.eco.ub.es)

Abstract

In this paper conditions are given guaranteeing that the Core equals the D-core (the set of unDominated imputations). Under these conditions, we prove the non-emptiness of the intersection of the Weber set with the imputation set. This intersection has a special stability property: it is externally stable. As a consequence we can give a new characterization (th. 3.2) for the convexity of a cooperative game in terms of its stability (von Neumann-Morgenstern solutions) using the Weber set.

Suggested Citation

  • Stef Tijs & Carles Rafels, 1998. "On the Cores of Cooperative Games and the Stability of the Weber Set," International Journal of Game Theory, Springer;Game Theory Society, vol. 26(4), pages 491-499.
    • Handle: RePEc:spr:jogath:v:26:y:1998:i:4:p:491-499
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